OTCPK:VGIPF - Post by User
Comment by
Seppelton Dec 19, 2013 6:52am
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RE:RE:RE:FrontFour's Proposal Now On SEDAR
RE:RE:RE:FrontFour's Proposal Now On SEDAR
I am not sure if a reverse split is such a bad idea.
One exaple is TOG which followed the move by RPL, purchased lands in SE Saskatchewan (from Pengrowth) and made a transition to a dividend paying O&G stock. TOG allowed shares to dilute instead of dipping into debt. They later consolidated 5:1 and now have less than 100 mil shares outstanding and about $100 debt. RPL is 200/300.
My mistake was making a modest investment in TOG at $1.60, hoping that post consolidation the price will slip below $8 and I will buy more. The price is way above $10 now. One explanation is that large institutions won't touch anything below $2 and won't become heavy buyers unless it's a $5 stock.